"(Chapter V) … "And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."
-Jesse Livermore
'Reminiscences of a Stockbroker'
"The bullish hidden agenda is that we don't want the public to be eligible to participate in this bull run. They made their choices a few years back. Bull markets do not like company, the market will do everything it can to make the majority gunshy [sic] and keep the bears from recognizing the prevailing trend. The higher we go the stiffer the pullbacks will be to make sure that not everyone is participating as we continue to move higher and higher. You must be aware and understand the fact that we are going to see frightening retracements the higher up we go."
-Birchtree
"Sir, I have found you an argument; but I am not obliged to find you an understanding."
attributed to Samuel Johnson
from Boswell's 'Life of Johnson'
______________________________________
As we head into 'The Veiled Land of Thing's to Come' I'm still in 40% "S" and 60% "I"
-Jesse Livermore
'Reminiscences of a Stockbroker'
"The bullish hidden agenda is that we don't want the public to be eligible to participate in this bull run. They made their choices a few years back. Bull markets do not like company, the market will do everything it can to make the majority gunshy [sic] and keep the bears from recognizing the prevailing trend. The higher we go the stiffer the pullbacks will be to make sure that not everyone is participating as we continue to move higher and higher. You must be aware and understand the fact that we are going to see frightening retracements the higher up we go."
-Birchtree
"Sir, I have found you an argument; but I am not obliged to find you an understanding."
attributed to Samuel Johnson
from Boswell's 'Life of Johnson'
______________________________________
As we head into 'The Veiled Land of Thing's to Come' I'm still in 40% "S" and 60% "I"
